New economic forecasts from the Fed and the IMF still look shaky. And Fox News got slapped for withholding evidence!

Wednesday, April 12, 2023
BY JULIA CLAIRE & CROOKED MEDIA

- Disgraced former president Donald Trump ([link removed]) saying something so incoherent even Tucker Carlson couldn't find a way to spin it

Well, well, well. If it isn’t our old nemesis: the economy.

* According to the latest Labor Department report, consumer prices in the United States eased in March, with cheaper gas and food providing some further relief to the tens of millions of Americans struggling under the weight of inflation. The consumer price index rose just 0.1 percent between February and March ([link removed]) , down from 0.4 percent between January and February. Analysts attribute much of the drop to declining prices for goods such as gas, used cars, and furniture, all of which skyrocketed last year following Russia’s invasion of Ukraine.

* A research note published on Wednesday signals that economists at Goldman Sachs no longer expect the Fed to raise interest rates in June ([link removed]) based on data showing that consumer prices have fallen faster than expected in March. The company previously forecasted consecutive rate hikes at the upcoming May and June meetings, and they still expect yet another hike in May.

* The meeting minutes of the latest assembly of Federal Reserve officials were released today ([link removed]) , and the 12 voting members agreed that failures in the banking sector will slow U.S. economic growth, but remain uncertain about how significant the effect will be. Members pledged to continue to be “highly attentive” to inflation risks. The Federal Reserve’s staff now anticipates “a mild recession starting later this year with a recovery over the two subsequent years.” The minutes show that officials expressed a strong preference for pausing interest rate hikes, but more are expected next month.

Speaking of the economic stress of bank failures…

* The Swiss parliament rejected the government’s $120 billion aid package for a planned merger between the failed Credit Suisse bank and UBS ([link removed]) . The lower house, the larger of the two chambers, pushed back on the deal, as it had already rejected the proposals in a late-night session on Tuesday. The funds have already been committed, and the government’s emergency pledge to back the merger cannot be overturned, but the vote is a strong symbolic rebuke of the nation’s executive leaders who chose to bypass the legislative bodies. Looks like we’re not the only ones tired of bank bailouts!

* The International Monetary Fund’s deputy managing director, Gita Gopinath, stated that the IMF has been “surprised” by the strength and resilience of the U.S. economy in the face of the financial battering the world economy has taken in the past three years. Still, she said that a larger domestic economic downturn remains “within the realm of possibilities ([link removed]) ,” because of low growth numbers in the U.S., which could indicate “risks of a hard landing.”

Millions of people are struggling to keep their heads above water during this period of economic uncertainty after a devastating worldwide pandemic. Just spitballing here, but maybe it would behoove those purported to be the world’s greatest economic minds to put their heads together and come up with a better solution than infinite interest rate hikes? Maybe put it up for a vote and let Republicans decide if they want pain to continue or not.

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Delaware Superior Court Judge Eric Davis has sanctioned Fox News and its parent company for withholding evidence in the $1.6 billion defamation lawsuit ([link removed]) brought by Dominion Voting Systems, and will now weigh whether further investigation and censure are warranted. Let’s fucking go!!! Lawyers for Dominion reportedly played recordings made by Fox News producer Abby Grossberg in 2020 which were not handed over to Dominion’s lawyers during the lawsuit’s “discovery” phase. Grossberg has herself sued Fox News and said that her deposition was coerced, while also claiming she had recorded conversations with Rudy Giuliani, Sidney Powell, and other (regrettably) influential GOP names. The sanction allows Dominion to conduct another deposition at Fox’s expense. This new evidence and resulting sanction have come just days before the trial is set to begin. Judge Davis has also indicated he is considering
appointing a special master to investigate the actions of Fox’s legal teams. Honey, it’s getting good!

The GOP-controlled Missouri House of Representatives voted to defund all of the state’s public libraries ([link removed]) . The party’s proposed budget cut also cuts diversity initiatives, childcare, and Pre-K programs. Wow, they really hate parents and children!


Ukraine launched an investigation today into a video that purportedly depicts the beheading of a Ukrainian soldier ([link removed]) , the latest in a long list of alleged Russian atrocities.


The Biden administration announced on Tuesday that it will seek public input on a new study of potential rules to regulate artificial intelligence like ChatGPT ([link removed]) , as questions about its impact on national security and education persist.


According to the World Health Organization, China has recorded the world’s first human death from bird flu ([link removed]) .


The Biden administration proposed new protections today to prevent women’s health information from being used to investigate or prosecute people who obtain or facilitate abortions ([link removed]) , particularly aimed at protecting those traveling out of state for the procedure.


In a debate on transgender minors receiving affirming care, state-Sen. Mike Moon (R-MO) expressed, once again, that he believes children as young as 12 years old should be able to marry adults with parental consent. ([link removed])


In the same vein, state-Rep. Bryan Slaton (R-TX) who has led the charge to ban drag shows in Texas on “anti-groomer” grounds, reportedly had an inappropriate relationship with his intern and served her alcohol even though she was underage ([link removed]) .


A federal judge in North Dakota temporarily blocked implementation of the Biden administration’s rule establishing clean-water protections for streams and wetlands in 24 states ([link removed]) .


A graphic novel based on the diary of Anne Frank has been banned from a Florida high school after complaints from Naz…sorry, a conservative activist group ([link removed]) .

In an interview with Tucker Carlson, disgraced former president Donald Trump said a criminal conviction would not stop him from continuing his run for president ([link removed]) . We could’ve told you that.

NPR has become the first major news organization to quit Twitter ([link removed]) after the company first falsely labeled the network “state-affiliated media”—the same term it uses to describe propaganda outlets in autocracies—before revising the label to “government-funded media” even though it receives less than one-percent of it annual budget from federal funding. In a statement, the company elaborated: “We are not putting our journalism on platforms that have demonstrated an interest in undermining our credibility and the public’s understanding of editorial independence.” This is of course just the latest instance of Twitter making a huge fumble under the stewardship of bitcoin-brains Elon Musk. Is it a long con to ultimately roll back “state-affiliated media” designations where actually applicable and thereby legitimize Russian and Chinese propaganda outlets? Could be, but he’s also likely too preoccupied
with coming up with 8th-grade-boy-level sex wordplay ([link removed]) to have thought that far ahead.
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Tennessee Democrats will push to reinstate state-Rep. Justin Pearson (D-TN) ([link removed]) who was expelled for leading a protest on gun policy after a school shooting.


Fellow-expelled state-Rep Justin Jones (D-TN) returned to the Legislature after being unanimously reinstated ([link removed]) by the Nashville Metropolitan Council.

The Biden administration announced its plans to launch a $5 billion program to accelerate the development of new COVID vaccines and treatments ([link removed]) .
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